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PIVX (PIVX) – Why it could become the No.1 privacy coin

The privacy coins market is pretty much crowded at this point. It’s one of those markets where only the best two or three coins will thrive, while the rest die off.  That’s because once users find one that offers everything that they need, in terms of maximum privacy, then the need for the rest of them simply disappears. At the moment, Monero (XMR) and ZCash (ZEC) seem to have a head start in this market. However, it’s still early days not just for privacy coins, but for blockchain technology in general. As real adoption begins to take shape, one privacy coin that stands to emerge the winner is PIVX (PIVX).  A number of its core fundamental support its potential rise to the top in the privacy coins market.

One of its core fundamentals that give it the potential to rise to the top is its low fees. PIVX (PIVX) transactions are almost free, costing just a fraction of a penny. That’s way lower than the transaction costs of Monero (XMR) and ZCash (ZEC). Given that any rationale user would go for a low-cost option when other factors are at par, it then follows that PIVX (PIVX) has a good chance at gaining adoption and outpacing its two bigger competitors, and take the top spot.

But are its other features at par with the other top coins in the privacy market? Well, in terms of privacy, PIVX (PIVX) is one of the best privacy coins in the market. PIVX uses the zerocoin protocol. This ensures complete privacy because it anonymizes not just the sending and the receiving addresses, but also the amount being sent. That’s top level privacy for anyone looking to make a transaction without being tracked. This places it at the same level as the other more recognized privacy coins in the market, but with the added advantage of lower fees.

PIVX (PIVX) also has the advantage of using a more forward-thinking mining algorithm. PIVX uses proof-of-stake mining algorithm, which makes it highly efficient. While proof-of-work is widely used by most blockchains, there is growing consensus that it is not sustainable in the long-term. It is simply not energy efficient. Even Vitalik Buterin made similar arguments about it about a month ago. This aspect of mining efficiency gives PIVX an edge in the market relative to its core competitors that use POW.

Going by the above, it is quite clear that PIVX stands a good chance to compete for the top spot in the privacy coins market. Besides, it allows investors to stake the coin and earn a passive income. That’s a big deal that will continue to draw in investors into PIVX (PIVX) going into the future, and push up its trading volumes. While it may not have established a market presence as big as that of Monero (XMR), or ZCash (ZEC), it is clear that in the long-run, it could outcompete them in the market, and significantly reward long-term HODLERs.

 

Liam Albert Administrator
Liam is a great fan of crypto
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Liam Albert Administrator
Liam is a great fan of crypto
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